On the occasion of 5th anniversary of the International Global ICFM in Eastern Europe, 11-13 July 2012 there was an international business conference "Investment attractiveness in Ukraine. ISA and IFRS for economy. Financial Markets"
During the conference there were discussed the ways to improve the investment climate in Ukraine, legal aspects of protection foreign investors in Ukraine, and also important nuances of International standards for monitoring, quality, review, other assurance and related services, adopted as National auditing standards.
In his speech, General Director ICFM Harry Carter reported on the activities of ICFM. Today the organization has about 5000 examination centers all over the world. Institute Offices are located in many countries, including Great Britain, Ukraine, Belarus, Russia, Australia, Philippines, Ghana. ICFM recently became a member of the European Federation of Accountants (European Federation of Bookkeepers), which, according to Carter, opens new perspectives for further development. The speaker stressed that the certificates ICFM are recognized today by IFAC (International Federation of Accountants), HM Treasury (UK Treasury), Australia Tax Office (Tax Office Australia) and by many other reputable organizations around the world.
Stefano Marcheze, technical consultant IESBA dedicated his speech for the Standards of professional ethics
He said that today there is a need to amend them. It is necessary to interpret more accurately the term "conflict of interests", "project team". Mechanisms of bring information about suspicion of possible violations also need to be improved. In addition, according to the lector, it is necessary to consider penalties for professional ethics standards violation.
Director of Educational initiative IAS Michael Wells said: "International Financial Reporting Standards help efficiently to allocate capital and improve performance".
Oleksandr Boiko, president of the group of companies, commented his participation in the conference: "These measures are very important for the national audit in particular and for business in general. For auditors it is interesting the transition experience of European countries on international standards for business - the effectiveness and feasibility of this step. IFRS is already 5 years in Ukraine. I think by this time and state, and the audit community, and business is done much. We will continue to work."
